Kratos Defense & Security Solutions (KTOS) FY2013 results: revenue $844 million, down 12.9% on the year
Kratos Defense & Security Solutions, Inc. (KTOS) reported revenue of $844 million for fiscal 2013, the year ended 29 December 2013, down 12.9% on the year before. Net income was -$37 million, and diluted earnings per share $-0.65. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2014.
Revenue
$844 million
-12.9% on the year
FY2009FY2013
Operating margin
2.2%
-5.1% a year earlier
FY2009FY2013
Net income
-$37 million
FY2009FY2013
Diluted EPS
-$0.65
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
844
969
54.3
-12.9%
Cost of revenue
640
712
523
-10.2%
Gross profit
204
257
-468
-20.5%
Gross margin
24.2%
26.5%
-862.6%
Research and development
19.7
17.8
8.6
+10.7%
Selling, general and administrative
173
193
141
-10.5%
Operating income
18.2
-49.7
29.5
Operating margin
2.2%
-5.1%
54.3%
Interest expense
46.4
66.4
51.2
-30.1%
Pre-tax income
-28.4
-114
-21.6
Income tax
1.1
-1.6
1.9
Net income
-37.2
-114
-24.2
Net margin
-4.4%
-11.8%
-44.6%
Diluted EPS
-$0.65
-$2.44
-$0.88
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
20.5
53.6
2.5
-61.8%
Capital expenditure
13.3
16.6
7.5
-19.9%
Free cash flow
7.2
37.0
-5.0
-80.5%
Free cash flow margin
0.9%
3.8%
-9.2%
Depreciation and amortisation
46.4
58.0
48.0
-20.0%
Share-based compensation
7.2
6.6
3.3
+9.1%
Buybacks
0.0
0.0
10.9
Diluted shares, weighted
57m
47m
27m
+21.1%
Shares outstanding at period end
57m
57m
32m
+0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
296
324
313
-8.7%
Debt
644
649
655
-0.8%
Other liabilities
276
310
249
-11.0%
Total liabilities and equity
1,217
1,284
1,216
-5.2%
Fixed assets
84.8
85.6
72.5
-0.9%
Goodwill
596
596
572
-0.0%
Intangible assets
69.9
106
125
-34.1%
Cash and equivalents
54.2
48.4
69.6
+12.0%
Receivables
266
272
245
-2.2%
Inventory
75.3
94.4
79.9
-20.2%
Other assets
70.2
81.1
52.9
-13.4%
Total assets
1,217
1,284
1,216
-5.2%
10-K for the year ended 29 December 2013, filed 12 March 2014: the filing.